There are multiple angles that can be taken with the recent large sales from Martin.
A huge number of shares have been sold, from which a buyer was happy to scoop up. The price subsequently dropped to a low of 24c and has now bounced back to 28.5c. LPI's liquidity overall is weak at best and market sale of this parcel would have tanked the price.
Imagine if we had a real bull run and 9 million shares were suddenly offloaded into the market.. All momentum would have been killed instantly. Martin seems to be a weak holder and was destined to sell eventually, the timing of the sale is probably not the worst in hindsight.
Martin achieved a lot for the company and I wish him well for his future endeavours. IMO Christobal's appointment all but confirms LPI's desire to execute the first right of refusal over MSB's stake. I see the CEO change as nothing but positive for the company and I look forward to a strong DFS and O/T agreement in the next 12 months.
LPI Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
